Opes Wealth Management LLC Sells 24,654 Shares of ON24, Inc. (NYSE:ONTF)

Opes Wealth Management LLC cut its holdings in shares of ON24, Inc. (NYSE:ONTF) by 43.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,500 shares of the company’s stock after selling 24,654 shares during the period. Opes Wealth Management LLC’s holdings in ON24 were worth $210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in ON24 during the third quarter valued at approximately $62,000. The Manufacturers Life Insurance Company lifted its position in ON24 by 19.1% during the second quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock valued at $81,000 after acquiring an additional 2,158 shares during the last quarter. Gladius Capital Management LP lifted its position in ON24 by 151.2% during the third quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock valued at $140,000 after acquiring an additional 13,755 shares during the last quarter. R Squared Ltd purchased a new stake in ON24 during the fourth quarter valued at approximately $153,000. Finally, FMR LLC lifted its position in ON24 by 45.0% during the third quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after acquiring an additional 8,528 shares during the last quarter. 83.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research report on Wednesday, January 15th.

Insiders Place Their Bets

In other ON24 news, CFO Steven Vattuone sold 6,146 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $6.68, for a total value of $41,055.28. Following the completion of the transaction, the chief financial officer now owns 534,386 shares of the company’s stock, valued at approximately $3,569,698.48. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sharat Sharan sold 36,189 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $6.20, for a total transaction of $224,371.80. Following the completion of the transaction, the insider now directly owns 3,113,728 shares of the company’s stock, valued at approximately $19,305,113.60. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 167,490 shares of company stock valued at $1,099,848. Insiders own 32.30% of the company’s stock.

ON24 Stock Down 0.1 %

NYSE ONTF opened at $6.93 on Friday. The company has a fifty day simple moving average of $6.67 and a two-hundred day simple moving average of $6.40. ON24, Inc. has a 12-month low of $5.37 and a 12-month high of $8.35.

ON24 Profile

ON24, Inc provides a cloud-based intelligent engagement platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Elite, for live and interactive webinar experience; ON24 Breakouts, for live breakout room experience that facilitates networking, collaboration, and interactivity between users; ON24 Forums, for live and interactive experience, which facilitates video-to-video interaction between presenters and audiences; ON24 Go Live, for live and interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; and ON24 Virtual Confrence, for live and large scale managed virtual event experience.